ECB maintains emergency liquidity for Greek banks at same level

The European Central Bank has maintained emergency liquidity for Greek banks at the same level as Friday, it said in an announcement on Sunday.

“Following the decision by the Greek authorities to hold a referendum and the non-prolongation of the EU adjustment program for Greece, the Governing Council declared it will work closely with the Bank of Greece to maintain financial stability,» said the EBC in a statement.

“Given the current circumstances, the Governing Council decided to maintain the ceiling to the provision of emergency liquidity assistance (ELA) to Greek banks at the level decided on Friday.”

The ECB said its governing council «stands ready to reconsider its decision.”

“We continue to work closely with the Bank of Greece and we strongly endorse the commitment of Member States in pledging to take action to address the fragilities of euro area economies,” said ECB president Mario Draghi.

“The Bank of Greece, as a member of the Eurosystem, will take all measures necessary to ensure financial stability for Greek citizens in these difficult circumstances,” said Bank of Greece governor Yannis Stournaras.